Scotiabank Financial Advisor Reviews | Glassdoor.ca

Scotiabank Financial Advisor Reviews

Updated 15 February, 2019
158 reviews

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Financial Advisor

3.0
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Scotiabank President and CEO Brian J. Porter
Brian J. Porter
84 Ratings

Employee Reviews

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Pros
Cons
  • "no work life balance, doesnt pay well" (in 75 reviews)

  • "high turnover amongst full-time employee" (in 40 reviews)

More Pros and Cons

  1. "Great training program to set you up for success"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Advisor in Halifax, NS
    Current Employee - Senior Financial Advisor in Halifax, NS
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Scotiabank full-time (More than a year)

    Pros

    Good base salary and try to place you close to home

    Cons

    Systems could be improved to combine everything in one place


  2. "Financial advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Calgary, AB
    Current Employee - Financial Advisor in Calgary, AB
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Scotiabank full-time (More than a year)

    Pros

    Great work environment
    Proper training before meeting clients

    Cons

    Not too many things i can think of

  3. "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Toronto, ON
    Former Employee - Financial Advisor in Toronto, ON
    Doesn't Recommend

    I worked at Scotiabank full-time (More than 3 years)

    Pros

    There are some wonderful people working at Scotiabank and the retail branches were great to work at.

    Cons

    The goals were raised to unreachable levels, support staff were laid off, you don’t have enough time in the day to sell everything expected and do the paperwork so you must stay at least an hour extra unpaid daily just to get your work done. With goals being so high, some people will cheat to achieve them and sign people up for things unknowingly or give them products other than what they asked for. This makes it look like the honest employees don’t work hard enough.

    Advice to Management

    Take an honest look at what you expect from your employees. When you ask for too much, don’t be surprised when customers are lied to, and people come up with sneaky tricks to beat the system.


  4. "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Vancouver, BC
    Current Employee - Financial Advisor in Vancouver, BC
    No opinion of CEO

    I have been working at Scotiabank full-time (More than 3 years)

    Pros

    great coworkers and working environment

    Cons

    stressful sales target, pay doesn't match the workflow. too much maintenance and overtime. system not really user friendly,


  5. "Always been good"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Advisor in Williams Lake, BC
    Current Employee - Senior Financial Advisor in Williams Lake, BC
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I have been working at Scotiabank full-time (More than a year)

    Pros

    Flexible, rewarding, appreciated, moved up quickly, achievements are acknowledged

    Cons

    Behind the times, technology in the stone age,

    Advice to Management

    Be more team oriented in sales approach


  6. Helpful (2)

    "Senior Financial Advisor Level 6"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Advisor in Olds, AB
    Current Employee - Senior Financial Advisor in Olds, AB
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I have been working at Scotiabank full-time (More than 5 years)

    Pros

    Great tools for financial planning and lending, and options for helping customers truly become better off with their finances.

    Cons

    Micro-managed time and excessive volume of calls, meetings, and sales targets. Doesn't seem to care much about the workload of their staff.


  7. "Very good overall"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor V in Laval, QC
    Current Employee - Financial Advisor V in Laval, QC
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Scotiabank full-time (More than 3 years)

    Pros

    -multiculturalism/diversity
    -Friendly staff
    -Good insurance coverage
    -Workperks/ ESOP
    -Lots of opportunities to advance your career

    Cons

    -Staff is burdened with more and more tasks
    -Constantly changing policies
    -Inefficient managers

    Advice to Management

    Lower the administrative burden associated with the job so we can focus more on our sales.

  8. "Branch review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Advisor
    Current Employee - Senior Financial Advisor
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Scotiabank full-time (More than 3 years)

    Pros

    Opportunity to grow
    Work as a team
    Helping customers

    Cons

    System is down sometimes

    Advice to Management

    Support your team whenn needed. Treat your team with respect.
    More positive attitude and atmosphere.


  9. "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Ottawa, ON
    Current Employee - Financial Advisor in Ottawa, ON
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Scotiabank full-time (More than 3 years)

    Pros

    Good job security.
    Decent work environment.
    Targets are balanced when compared to industry

    Cons

    The least paying bank of the big 5 banks.


  10. Helpful (4)

    "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Toronto, ON
    Current Employee - Financial Advisor in Toronto, ON
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Scotiabank full-time (More than 3 years)

    Pros

    Workperks
    Employee share plan
    Staff account and credit cards

    Cons

    Where do I begin?

    1. Lack of training required to do your work as expected by management. 3 months of training which mostly involves role play calls and little experience doing the actual work. When I asked if I could shadow someone on the job to learn the process I was told that I should know how to do it and if not, to go back and read the Job Aids (it's like reading a dictionary).

    2. Promotions have nothing to do with merit or performance. I was told by interviewers when applying for a promotion that there is a lot to consider when hiring someone, particularly the number of men and women in branch so they will look for who fits in the branch at that time.

    3. Be ready for a zero accountability workplace. Tasks will be reassigned and passed through multiple hands before reaching someone who will finally action it. No one is willing to take the responsibility of requests and will hand it off at any given opportunity.

    4. If you have a concern, keep it to yourself. The human resources department is only there for show. They will listen to your concern regardless of the validity and take no action to improve your situation. My religion was openly mocked in front of my colleagues. When I raised this concern with the department, after an "extensive investigation" they said it was a "harmless joke" and that was the end of it. In fact, they were asking me what I did to make him say something like that.

    5. Very high turnover. The gist of it is that you are expendable.

    Advice to Management

    Change stale dictatorial management style. If you want to succeed as an institution that people can rely on, it's really not helping that every time a customer walks into their branch someone new comes up to them to say they are taking over as the new advisor. There is no customer retention and cPulse results give the tiniest glimpse of the way a branch runs, it is not a reliable method of managing customer engagement on its own.